Following public concern over Apple Card’s and Goldman Sachs’s behavior for credit-limit decisions, US presidential candidates are weighing in.
Now, politicians are joining in on the talk with Democratic presidential candidate Elizabeth Warren calling out Goldman Sach’s response to the public outcry.
3 days ago, Goldman Sachs made this statement:
Yesterday, in an interview from Concord, New Hampshire, Elizabeth Warren said this:
“Yeah, great. So let’s just tell every woman in America, ‘You might have been discriminated against, on an unknown algorithm, it’s on you to telephone Goldman Sachs and tell them to straighten it out,’”
Elizabeth Warren is no surprise to this field, having built her career on fighting against large cooperations and has, in the past joined in on discussions about credit card treatment for customers.
Warren went on to criticize the algorithm behinds these decisions, as reported by Bloomberg, Warren says:
We’re all beginning to understand better that algorithms are only as good as the data that gets packed into them,” Warren said. “And if a lot of discriminatory data gets packed in, in other words, if that’s how the world works, and the algorithm is doing nothing but sucking out information about how the world works, then the discrimination is perpetuated.”